Cirencester Friendly has announced that 94% of its income protection (IP) claims were paid last year.
On releasing the results it also called for all IP providers to join it and release their approval rates to help advisers and consumers make more informed choices. The provider approved 947 IP claims from the 1005 eligible for consideration, paying out £2.6m in benefits. This marks an increase of 5% on 2008, when 89% (856) of 962 eligible claims were paid from 988 total claims received. Its sum paid-out also increased from £1.9m in the previous year. In total 58 (6%) were declined for not meeting the claims requirement for: • not supplying proof of earnings; • not supplying me...
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